Hubbell Incorporated (NYSE:HUBB) Shares Sold by Hancock Whitney Corp

Hancock Whitney Corp trimmed its position in Hubbell Incorporated (NYSE:HUBB) by 0.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,785 shares of the industrial products company’s stock after selling 24 shares during the period. Hancock Whitney Corp’s holdings in Hubbell were worth $2,906,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lazard Asset Management LLC raised its position in Hubbell by 85.3% during the 1st quarter. Lazard Asset Management LLC now owns 1,781 shares of the industrial products company’s stock worth $739,000 after buying an additional 820 shares during the last quarter. Mount Yale Investment Advisors LLC raised its holdings in shares of Hubbell by 10.0% during the first quarter. Mount Yale Investment Advisors LLC now owns 703 shares of the industrial products company’s stock worth $292,000 after purchasing an additional 64 shares during the last quarter. Janus Henderson Group PLC lifted its position in Hubbell by 6.5% during the first quarter. Janus Henderson Group PLC now owns 6,586 shares of the industrial products company’s stock valued at $2,731,000 after purchasing an additional 403 shares during the period. Meiji Yasuda Life Insurance Co purchased a new stake in Hubbell in the first quarter valued at $950,000. Finally, Tidal Investments LLC grew its position in Hubbell by 499.3% during the 1st quarter. Tidal Investments LLC now owns 4,992 shares of the industrial products company’s stock worth $2,072,000 after purchasing an additional 4,159 shares during the period. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Analyst Upgrades and Downgrades

HUBB has been the subject of several analyst reports. StockNews.com raised Hubbell from a “hold” rating to a “buy” rating in a report on Monday. Barclays boosted their price target on Hubbell from $400.00 to $402.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Sanford C. Bernstein began coverage on shares of Hubbell in a research note on Tuesday, November 5th. They set an “outperform” rating and a $535.00 price objective on the stock. Stephens reaffirmed an “overweight” rating and set a $450.00 target price on shares of Hubbell in a report on Friday, August 2nd. Finally, Morgan Stanley increased their price target on shares of Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $445.56.

Insider Activity

In other news, insider Mark Eugene Mikes sold 1,144 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $466.20, for a total value of $533,332.80. Following the completion of the sale, the insider now directly owns 2,957 shares in the company, valued at $1,378,553.40. This represents a 27.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.78% of the company’s stock.

Hubbell Price Performance

Hubbell stock opened at $463.78 on Tuesday. The stock has a market capitalization of $24.89 billion, a P/E ratio of 33.41, a P/E/G ratio of 1.71 and a beta of 0.90. The company’s fifty day moving average price is $441.22 and its 200 day moving average price is $402.32. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.66. Hubbell Incorporated has a 1 year low of $293.91 and a 1 year high of $481.35.

Hubbell (NYSE:HUBB) last announced its earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.47 by $0.02. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same quarter last year, the business earned $3.95 earnings per share. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Hubbell Incorporated will post 16.47 earnings per share for the current fiscal year.

Hubbell Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a dividend of $1.32 per share. The ex-dividend date is Friday, November 29th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.14%. This is a boost from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s dividend payout ratio is presently 35.16%.

Hubbell Profile

Hubbell Incorporated, together with its subsidiaries, designs, manufactures, and sells electrical and utility solutions in the United States and internationally. It operates through two segments, Electrical Solutions and Utility Solutions. The Electrical Solution segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures, and other electrical equipment for use in industrial, commercial, and institutional facilities by electrical contractors, maintenance personnel, electricians, utilities, and telecommunications companies, as well as components and assemblies.